Adventure Gold Inc.

Adventure Gold Inc.

November 14, 2008 11:34 ET

Adventure Gold Arranges a Private Placement with Desjardins Securities

MONTREAL, QUEBEC--(Marketwire - Nov. 14, 2008) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company"), announces that it has engaged Desjardins Securities Inc. as agent for a best efforts basis private placement of a maximum of 650 units (the "Units") by way of an offering memorandum to investors residing in the Province of Quebec for gross proceeds of up to $800,800. Each Unit is comprised of 6,600 flow-through common shares at a price of $0.14 per flow-through share and 2,800 common shares at a price of $0.11 per common share.

The closing of the private placement is expected to occur on or about December 19, 2008. In connection with the private placement, Desjardins Securities Inc. will receive a cash finder's fee equal to 10% of the gross proceeds of the offering and non-transferable broker warrants entitling it to acquire that number of common shares of the Company equal to 7% of the Units issued under the offering at a price of $0.14 per common share for a period of 18 months following the closing date. The brokered private placement is subject to the approval of the TSX Venture Exchange and of regulatory authorities.

The net proceeds from the private placement will be used for exploration activities on the Company's mining properties located in the Abitibi region, Province of Quebec and for working capital purposes.


Adventure Gold Inc. is a mining exploration company focused on discovering high quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val -d'Or, Quebec and Timmins, Ontario areas and is lead by highly motivated management and technical teams with extensive exploration and mine production experience.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information